Friday, June 15, 2018

Almost Half of CUs Saw a Drop in Membership

The National Credit Union Administration (NCUA) is reporting that almost half of all federally insured credit unions at the end of the first quarter of 2018 had fewer members than a year ago.

Membership declined by negative 0.1 percent at the median.

Almost seventy-five percent of the credit unions reporting a loss in members were under $50 million in assets.

NCUA is reporting that in 18 states the median membership growth rate was negative for the first quarter of 2018. At the median, membership declined the most in the District of Columbia (-2.1 percent). Pennsylvania saw a membership decline at the media of 1.3 percent.

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